tag:blogger.com,1999:blog-5140004705538204727.post6628735192254937008..comments2023-12-16T04:08:06.419-08:00Comments on Real Estate in the LBC: Welcome to the Party, Pal!el beehttp://www.blogger.com/profile/14187665973956068496noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5140004705538204727.post-80266854535391247452008-05-21T10:14:00.000-07:002008-05-21T10:14:00.000-07:00L,Well, I'm glad you found the blog too. I'm espe...L,<BR/><BR/>Well, I'm glad you found the blog too. I'm especially glad you went through all the old posts (although most of those sellers have given up by now)--I always do that when I find a new blog I like.<BR/><BR/>Korea, eh? I'd like to hear some stories about that. I have friends of friends in Hong Kong, the land of $10,000 a month rent. <BR/><BR/>I can relate to your feelings about the last few years. Isn't that pathetic that two hardworking teachers pulling in six figures are priced out of Long Beach?<BR/><BR/>I too felt enormous pressure to buy (Friends and co-workers repeatedly warned, "Paying rent is throwing away money" and "If you keep waiting, you won't be able to afford SoCal") but something just didn't feel right.<BR/><BR/>When I ran into idiots from High School (who barely got out of H.S.) that were suddenly "Mortgage Brokers" and ne’er-do-wells who used to sell pot and work as bartenders now working as "Senior Loan Officers" I knew we were in for something bad.<BR/><BR/>However, I'd be lying if I said the pressure didn't get to me. I mean, at one point I considered buying in the Inland Empire and once the property appreciated I hoped I could FINALLY get into OC or LA.<BR/><BR/>I know, right??? That would have been the most colossal mistake ever.<BR/><BR/>Prices will return to some semblance of reality. It could take a few years depending on the next moves of Congress and the Fed, but the fundamentals are on our side.<BR/><BR/>Enjoy yourself in Seoul and have faith that when you return, you'll be able to swoop in on the place you deserve (and you will pay pennies on the dollar for someone else's upgrades).el beehttps://www.blogger.com/profile/14187665973956068496noreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-27870434070294910552008-05-21T08:22:00.000-07:002008-05-21T08:22:00.000-07:00Hi, I'm so excited to find your blog -- we used t...Hi, <BR/><BR/>I'm so excited to find your blog -- we used to live in LB (rented a 1 bd/2bth, 1250 sf ocean-view apt for 1900/mo) and loved it, but now are in Korea. . . .<BR/><BR/>Why Korea? We also wanted to buy a modest, clean, safe house/condo in a decent area of LB, but as two public school teachers making a combined income of appx $100,000 it just wasn't working . . . no matter how we worked the numbers, we couldn't find anything w/ a normal, sane income/mortgage ratio. . . . we refused to buy anything so ridiculously overpriced, although we gnashed our teeth as friends/colleagues bought tiny shacks at outrageous places . . . <BR/><BR/>so we left in 2006 and are living here in Seoul, saving money, avoiding the rat race and waiting for prices to return to some semblance of sanity. I only wish your blog was around back when we were checking out possible purchases in 2003-2006. Even though we knew it was foolish to purchase at that time, it still irked to see others giddily enjoying their new homes w/o caring about the possible downfalls. . . <BR/><BR/>We plan to stay over here another year or so, and hopefully prices will come down enough to make it feasible -- until then, I'm going to continue reading your blog -- I just found it today and read through most of the posts already (yes, I guess I'm obsessed, hahaha) -- keep up the good work!<BR/><BR/>L~Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-4541041504469169892008-05-20T12:36:00.000-07:002008-05-20T12:36:00.000-07:00anonymous,Golly, I'm blushing. Thanks for reading...anonymous,<BR/><BR/>Golly, I'm blushing. Thanks for reading.el beehttps://www.blogger.com/profile/14187665973956068496noreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-30871329815083596662008-05-20T12:35:00.000-07:002008-05-20T12:35:00.000-07:00Freedom CM,Thanks for posting the comps. It puts ...Freedom CM,<BR/><BR/>Thanks for posting the comps. It puts it all into perspective, eh? <BR/><BR/>There are still people out there who don't get out much, don't crack open the newspaper, and most certainly don't read this blog. I mean, to come onto market that much higher than the competition (which are growing MLS Mildew by now) highlights a certain level of insanity and greed that's simply baffling. They actually believe they are going to get out of this with a 50% profit! Don't you have friends? <BR/><BR/>Homeboy is oblivious to the cash carnage on the way if he doesn't start slashing prices like Crazy Gideon.el beehttps://www.blogger.com/profile/14187665973956068496noreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-87368956791546867572008-05-20T12:20:00.000-07:002008-05-20T12:20:00.000-07:00aplliances?This is CLASSIC!!1!Still my favorite bl...aplliances?<BR/><BR/>This is CLASSIC!!1!<BR/><BR/>Still my favorite blog, El Bee.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5140004705538204727.post-75480499574384209642008-05-20T10:55:00.000-07:002008-05-20T10:55:00.000-07:00Whoa! I couldn't believe it when I saw that with ...Whoa! I couldn't believe it when I saw that with the attached 1 car garage it takes up the whole of the tiny, tiny lot. all for $790k!<BR/><BR/>Here are the right comps, which suggest that even right now, it should be listed in the high 500s (which is still fantasy-land):<BR/><BR/>http://www.redfin.com/CA/Long-Beach/309-Argonne-Ave-90814/home/7598199<BR/><BR/>$695k--200sf smaller, but parking for 2, plus a very recent renovation and tiny yard<BR/><BR/>http://www.redfin.com/CA/Long-Beach/5018-E-3rd-St-90814/home/7598329<BR/><BR/>$660k--about the same size, renov., but twice the lot so you actually have a little yard<BR/><BR/>Either of those is so, so much nicer.<BR/><BR/>FreedomCMAnonymousnoreply@blogger.com